(Bloomberg) -- BNP Paribas SA, France's largest bank
by value, cut its forecast for the yen as rising global interest
rates make it more lucrative to borrow and sell Japan's currency
to purchase higher-yielding assets.
The yen will drop to 121 against the dollar and 167 versus
the euro by the end of June, the bank said, compared with its
earlier forecasts of 115 and 159, respectively. The bank still
forecasts the yen will strengthen by year-end.
Read more at Bloomberg Currencies News
by value, cut its forecast for the yen as rising global interest
rates make it more lucrative to borrow and sell Japan's currency
to purchase higher-yielding assets.
The yen will drop to 121 against the dollar and 167 versus
the euro by the end of June, the bank said, compared with its
earlier forecasts of 115 and 159, respectively. The bank still
forecasts the yen will strengthen by year-end.
Read more at Bloomberg Currencies News
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